Ardsley Advisory Partners LP Buys Shares of 70,000 Medtronic PLC $MDT

Ardsley Advisory Partners LP bought a new position in Medtronic PLC (NYSE:MDT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 70,000 shares of the medical technology company’s stock, valued at approximately $6,102,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MDT. 1248 Management LLC bought a new position in shares of Medtronic during the 1st quarter valued at approximately $26,000. Twin Tree Management LP purchased a new stake in Medtronic during the 1st quarter valued at $29,000. Activest Wealth Management boosted its stake in Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after buying an additional 322 shares during the period. GFG Capital LLC bought a new position in Medtronic during the second quarter valued at $36,000. Finally, True Wealth Design LLC lifted its holdings in shares of Medtronic by 49.8% in the 2nd quarter. True Wealth Design LLC now owns 421 shares of the medical technology company’s stock worth $37,000 after acquiring an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MDT. Robert W. Baird boosted their price objective on Medtronic from $103.00 to $109.00 and gave the company a “neutral” rating in a report on Wednesday, November 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Medtronic in a research report on Tuesday, December 2nd. Sanford C. Bernstein set a $111.00 target price on Medtronic in a research note on Wednesday, November 19th. Argus increased their price target on Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, August 26th. Finally, Stifel Nicolaus raised their price target on shares of Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $110.44.

Medtronic Stock Performance

NYSE:MDT opened at $99.59 on Wednesday. The company has a market cap of $127.68 billion, a P/E ratio of 26.84, a P/E/G ratio of 2.67 and a beta of 0.71. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $106.33. The company’s 50-day moving average price is $97.03 and its 200-day moving average price is $92.55. The company has a current ratio of 2.42, a quick ratio of 1.80 and a debt-to-equity ratio of 0.57.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.05. The company had revenue of $8.96 billion during the quarter, compared to the consensus estimate of $8.86 billion. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. Medtronic’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, sell-side analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, December 26th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, December 26th. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. Medtronic’s payout ratio is presently 76.55%.

Medtronic Company Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.